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Here’s what the California Franchise Tax Board says: “Forgiveness of student loan debt is generally taxable unless it meets one of the exclusions in California Revenue and Taxation Code ...
"Student loans that are forgiven after Dec. 31, 2020, and before Jan. 1, 2026, will not be taxed on a federal return, but for state income tax, there are some exceptions," Kathy Pickering, chief ...
One of the hot topics after the Biden administration unveiled its student loan forgiveness plan last week was how canceled debt might impact borrowers' income tax returns. The details are still not...
That means if you received student loan forgiveness last year and live in one of those five states, the relief will count as taxable income when you file your 2023 return.
You may be able to increase your withholding taxes with your employer or start setting aside money now to pay your taxes in 2024 if your student loans are forgiven. The Beginning of Student Loan ...
The temporary adjustment allows eligible loan borrowers to use past periods of repayment (and even some periods of deferment and forbearance) toward their 20-year and 25-year IDR loan forgiveness ...
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